Robinsons retirement from his managing director post was confirmed today by Michael DuVally, a spokesman for the New York-based bank, who declined to elaborate. Robinson didnt immediately return a call seeking comment. Robinson became a managing director in 2006 and was named to his current role a year ago. He previously worked for J. Michael Evans , a vice chairman of the bank who oversaw emerging markets. Evans departed at the end of last year.
A “Boring” Investment Strategy That Always Pays
For such a mature company , 3Ms been doing very well Mike Dillard on the stock market, and it looks to be well-positioned for more capital gains. At the end of 2013, 3M had approximately 89,000 employees (full-time equivalent), of which 60% were based abroad. The company spends a lot on new research and development, and while many blue chips have been doing everything they can to squeeze costs, 3M keeps spending on new scientific and technology development ($1.57 billion in 2011, $1.63 billion in 2012, and how much does the elevation group cost $1.72 billion in 2013). The largest component of the companys sales is its industrial business, which makes a lot of product for automotive original equipment manufacturers (OEMs) and the automotive aftermarket. Products like tapes, sealants, ceramics, vinyl, polyester, and adhesives are sold to this market, but theyre also sold to electronics, appliance, food and beverage, construction, and paper and printing customers. Thanks to the acquisition of Ceradyne Inc.